Provided by IMC! Peer Mentor: Rachel Rendall
With Thanksgiving quickly approaching, one annual event is also coming around the corner. BLACK FRIDAY.
Now as money-conscious people you may think, “Wow! Black Friday! The perfect time to get deals on gifts for the holiday season!” But before you hit the stores at 3 am, it’s important to understand which deals are worth it and the importance of sticking to your trusty budget even with enticing deals. So, without further ado, here is our IMC! roundup of Black Friday tips and tricks.
1. Remember that many Black Friday deals start before Black Friday
Most Black Friday deals are already being advertised or are happening RIGHT NOW! With deals coming out sooner each year, don’t feel pressured to do all your Black Friday shopping on Black Friday.
2. Don’t fall victim to the loss-leader item
Many stores may try to entice buyers into a store by having one loss leader item, or something super cheap that draws customers in the store with hopes they will buy other items as well. Beware of this marketing tactic and know which items you are willing to spend money on!
3. Remember where the biggest savings are
The best deals on Black Friday are usually on technology, for example, TVs, laptops, tablets, headphones, appliances, and smartwatches. While there are some exceptions, deals on technology are the best over Black Friday.
4. Don’t forget to check online deals
Afraid that a certain item may be out of stock on Black Friday? Consider checking online deals first before hitting the stores. Most stores have just as good of online deals even before Cyber Monday!
5. Don’t forget about small business Saturday and Cyber Monday!
Speaking of Cyber Monday don’t forget that Black Friday isn’t the last day to lock in some serious savings. Small business Saturday is the day after Black Friday and is the perfect time to find more unique gifts that also support the small businesses near you. Cyber Monday is the Monday after Black Friday and has deals that are exclusively online.
6. Lastly, even with crazy discounts, out of budget STILL means out of budget!
Don’t be afraid to buy at a discount and save the difference! Why not end the holiday season and start the New Year off right by kickstarting your savings? Sticking to a budget is just as important if not more important around Black Friday and the holidays. Spending feels more justified around the holidays, so it is important to recognize what you are willing and able to spend!
If you find yourself wanting to make a budget for your holiday shopping or are looking for more money tips, as always, your friends at It Make$ Cents! are here to help!
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